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Biobased economy, bioeconomy or biotechonomy is an economic activity involving the use of biotechnology and biomass in the production of goods, services, or energy. The terms are widely used by regional development agencies, national and international organizations, and biotechnology companies.
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The pharmaceutical industry is a medical industry that discovers, develops, produces and markets pharmaceutical goods that are then administered to (or self-administered by) patients. These medications are created and put on the market for the curing or prevention of disease , as well as alleviating symptoms of illness or injury .
The following table lists the largest biotechnology and pharmaceutical companies ranked by market capitalization in billion US dollars. The change column indicates the company's relative position in this list compared to their relative position in the preceding year; i.e., an increase would be moving closer to rank 1 and vice versa.
A market analysis investigates among other things the influence of supply and demand on a market. [4] Organizations use the findings to guide the investment decisions they make to advance their success. The findings of a market analysis may motivate an organization to change various aspects of its investment strategy.
Biotechnology is the research and development in the laboratory using bioinformatics for exploration, extraction, exploitation, and production from any living organisms and any source of biomass by means of biochemical engineering where high value-added products could be planned (reproduced by biosynthesis, for example), forecasted, formulated ...
The drug pipeline is also sometimes restricted to a particular drug class or extended to mean the process of discovering drugs (the research and development pipeline). [3] The R&D pipeline involves various phases that can broadly be grouped in 4 stages: discovery, pre-clinical, clinical trials and marketing (or post-approval).
Biotechnology in India is a sunrise sector within the Indian economy. [1] Agencies of the Government of India concerned with the biotechnology industry include the Department of Biotechnology and the proposed Biotechnology Regulatory Authority of India. As of 2022, the sector is valued at $80 billion. [2]